TD Cowen analyst Tyler Van Buren maintained a Buy rating on Biohaven Ltd. (BHVN – Research Report) today and set a price target of $75.00.
Tyler Van Buren’s rating is based on several promising developments at Biohaven Ltd. The FDA’s Priority Review for troriluzole in Spinocerebellar Ataxia (SCA) significantly increases the likelihood of approval by mid-year, with the company actively engaged in discussions with the FDA. The absence of an advisory committee could further enhance the probability of approval, and Biohaven is prepared for a potential U.S. launch by late 2025, with European approval likely in a similar timeframe.
Additionally, Biohaven’s ongoing research in other areas, such as Obsessive-Compulsive Disorder (OCD), with two Phase III trials underway, adds to the company’s potential for growth. The impressive results from the BHV-1300 study, showing over 80% reduction in IgG levels, provide a strong foundation for the upcoming Phase II Graves’ study. These factors collectively contribute to the positive outlook and justify the Buy rating.
According to TipRanks, Van Buren is an analyst with an average return of -2.2% and a 39.92% success rate. Van Buren covers the Healthcare sector, focusing on stocks such as Regeneron, BridgeBio Pharma, and Arcutis Biotherapeutics.
In another report released on March 7, Morgan Stanley also maintained a Buy rating on the stock with a $63.00 price target.
Questions or Comments about the article? Write to editor@tipranks.com